Feedback On Engagement With Shareholders GRAND PARADE INVESTMENTS LIMITED (Incorporated in the Republic of South Africa) (Registration Number 1997/003548/06) Share code: GPL ISIN: ZAE000119814 (“GPI” or “the Company”) FEEDBACK ON ENGAGEMENT WITH SHAREHOLDERS Further to the announcement released on SENS on 20 December 2018 relating to GPI’s invitation to shareholders to engage with the Company on the remuneration policy and the implementation of the remuneration policy, shareholders are advised that the telephone conference (“teleconference”) took place on Monday, 28 January 2019. Details thereof are as follows: 1. Of the 60.56% who voted against the policy and the 62.86% who voted against the implementation of the policy, only 7 parties, representing 13.28% shareholding in GPI, participated in the teleconference on 28 January 2019 (“Participating Shareholders”); 2. The Participating Shareholders raised concerns regarding the Company’s disclosure of the implementation of the remuneration policy, specifically relating to the short-term and long- term incentives and the lack of details pertaining to the weightings and/or hurdle rates attached to executive KPI's. Further, the Participating Shareholders requested that they be provided with a timeline for execution of the specific targets; 3. The Remuneration and Nomination Committee ("Committee") has undertaken to analyse the executive KPI's as well as the weightings and/or hurdle rates attached thereto and to fully disclose same in the Remuneration Report to be published in 2019. The Committee will engage further with these shareholders prior to adoption of the remuneration policy for the 2020 financial year. Cape Town 29 January 2019 Sponsor PSG Capital Date: 29/01/2019 09:15:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.